Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-07-25
CONDITION OF TRADE,

u Et LN IIa
I Renorted Nv E.lta,,la ana c.rta nv
ana
NEW York, July 23.-R. G. Dun &
| "a IN xveakJv ravieu, ~ ,roda m;,l sou,
WHY ~, .~Sn -.
"tsn business progressing Wen ehrough-
hi the country crop prospects excellent,
| iron production larger than at any pre-
| rious period, and money In abundant
supply, Wall street is disturbed be cause
q dream 1t has been chasing for months
suddenly fades away, and Mr.. Garrett
| announces the failure of Mr.. Ives 10 bpy
the B. & O. The incident illustrates the
weakness OF Wall street as a barometer.
| For four months the street has been dis
counting tho beneficent results OF this
| expected asettlementu and all sorts Of
| purchases, loans. commitments and cal
culations have been based thereon. But
for these, the retention of the b. 81 O. by
| But now litigation. involving the value
Of many propersies. directly and ind
| rectly, has been commenced and over
! cloud them with uncertainty for some
| time and meanwhile no one wants to buy
q share in q law suit.
Wheat at 81 ga for No, . red winter in
July is lower than it has been before in
that month for more than four
years and close to the lowest price for
that period In any month. This Is the
! direct result of a SPECULATION which drew
| many million bushels from farmers,
I hands, where cost Of carrying was moth
ing, into tho hands Of dealers who ara
anxious to unload before new whea
comes. The twenty million bushels In a
few elevators are heavier than Atty mil
lion bushels wouiA be in farmers bins.
Still purchases from farmers for some
ttma to come ass probable, and tie CON
sequent delay ia demand for money to
use in crop moving may possibly be help
full. Prices generally are lew. In spite Of
many speoulations. AZ evidence Of the
absorption OF floating capital In axsd
forms, and its ELECTS, IL may be stated
that ths same quantfties of articles rep
~resenting ninc.tanths Of the aggregate.
consumption Of tho oountrY which could
have been bought a year ago for 300
would now coRt only about El0o. 80 and
they were not 1 per cent. higher In Janu-
ary last. So ANAL = change in prices AT
ter m expansion OF S88. 900. 900 during
the year In circulation Ia surprisfnp.
Cotton lis tending Downward. hut goods
are comparatively scarce And nrices well
maintained. WoolIans are. AZ usnal. mn
satisfactory, forsign compctition AZ low
prices combinfnR with 1 slack demand
Tor goods.to discourage PRODUCERS. put
some kinds OF iron and steel rails ara
stronger, though the market for ateel
rails seems lasa firnl. A sale OF Q5, 600
tons of Besssrner iron al above $40 is re-
ported, and at the same time q large sale
Of rails for Pacific delivery at prices be-
low current a~uotationA. The Official bull
lstan Of the Iron and Steel association
makes tho production for the hall year
1851, 600 tons, sad reports q slight increase
In steel of unseld Iron, making the con-
sumption 10, coo tons lsss than produc-
ton and import.
Reports from all parts Of the country
are uniformly favorable Is to stats of
trade for the aeason and collections sre
reported good or fair 1t all points save
two, The : prospects are also pro-
ncunced mors favorable, Though the ex-
tent OF damages done by drought n In
scots cannot be exactly determined. One
SSAShhs 49, eAo A0R0Ep k11t9 aVAk0